My wife and I just finished our rehab a few weeks ago and finally have it rented out.

@Cesar Egas If you don't want them in the house at closing do a final walkthrough the morning of closing.

The debt coverage ratio is around 1.3-1.5 depending on the final purchase price.

I don't know how small claims works in TX, but when I had to chase a deadbeat for unpaid commission in Mass, he kept failing to show for hearings.I was finally able to present my case and evidence to the Magistrate who said I could have both a capias (civil arrest, where the defendant is forcibly brought to court) and an execution (sheriff or constable can seize assets and sell them to satisfy the judgement).What finally got me paid was when I gave him a hard deadline and told him that if I wasn't paid in full by X date at Y time, I was going to have his WIFE (also a named defendant) civilly arrested at work.As you might suspect, that got the deadbeat moving very quickly and yes, I was paid in full.

We provide before video (what they looked like at the time of acquisition), repair scope, rental quotes, ARV (After repaired) we provide the construction crews that did the work, the scope of work, who the lender and appraiser were that did the appraisal/lending, and the final appraised value.Honestly we have so many people that have done it, it is never ending. 

Finally, remember that some of even the best investors have gotten stuck in dead-end deals early in their career (and went under from there) so do not get too discouraged if things are rough at first.

Like any Alaskan, toys are a must and finally there's room with an oversized two car garage and a large combination storage shed and greenhouse.While the investment wasn't perfect pricing, it was perfect timing for us to quickly move before the school year.

My final tip is an easy one, drink water!

I've had some cases where the lender has stretched to 1.20 DSCR if the location and tenant credit is stellar...however, this has typically only happened when the appraisal comes in lower than expected and the lender really likes the deal...they then lower from 1.25 DSCR to 1.20 DSCR to close the deal with us.I suggest Reverse Engineering your search.  

To stretch the title to proper English, I have an FHA qualified Buyer.